I'm trying to complete my Ch7 paperwork so I can file Monday morning and I've run into an odd problem. On Sched C where you list exempt property, you have to specify the specific law that provides the exemption. The Nolo book says that for a Tennessee filing I should use 26-2-103 for the $4000 wildcard exemption and 26-2-104 for the personal clothing exemption. Another book I have says use 26-2-102 for the wildcard and 26-2-103 for clothing. Searching around on the net for Tennessee Bankruptcy Exemptions, I find references to both sets of numbers. I have absolutely no idea which is correct.
I found the following at tennessee.gov:
26-2-103. Personal property selectively exempt from seizure.
Personal property to the aggregate value of four thousand dollars ($4,000) debtor's equity interest shall be exempt from execution, seizure or attachment in the hands or possession of any person who is a bona fide citizen permanently residing in Tennessee, and such person shall be entitled to this exemption without regard to the debtor's vocation or pursuit or to the ownership of the debtor's abode. Such person may select for exemption the items of the owned and possessed personal property, including money and funds on deposit with a bank or other financial institution, up to the aggregate value of four thousand dollars ($4,000) debtor's equity interest.
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26-2-104. Additional personal property absolutely exempt.]
As you can see, one law specification is referenced in the header, but the other number appears in the footer. Should I just go with the one in the header? That's the one Nolo suggests.
I found the following at tennessee.gov:
26-2-103. Personal property selectively exempt from seizure.
Personal property to the aggregate value of four thousand dollars ($4,000) debtor's equity interest shall be exempt from execution, seizure or attachment in the hands or possession of any person who is a bona fide citizen permanently residing in Tennessee, and such person shall be entitled to this exemption without regard to the debtor's vocation or pursuit or to the ownership of the debtor's abode. Such person may select for exemption the items of the owned and possessed personal property, including money and funds on deposit with a bank or other financial institution, up to the aggregate value of four thousand dollars ($4,000) debtor's equity interest.
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26-2-104. Additional personal property absolutely exempt.]
As you can see, one law specification is referenced in the header, but the other number appears in the footer. Should I just go with the one in the header? That's the one Nolo suggests.
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